Using AMT credits in early retirement — can they offset all taxes?

I’m planning to retire around 50 and live off a taxable bridge account (cash, T-bills, etc.), so no W-2 income at that point.

I’ve got a pretty large AMT credit carryforward (~$275k) from past ISO exercises and trying to figure out how useful that’ll be.

The rough plan is to live off our cash/interest/dividends and then do Roth conversions each year once I’m retired. Targeting something like $120k–$140k MAGI for ACA.

Main question — can AMT credits basically offset federal taxes 1:1 in this situation?

Or are there limitations? I’ve read it only works up to the difference between regular tax and AMT, but not sure how that plays out when income is mostly interest, dividends and, Roth conversions.

Trying to decide if I should be more aggressive with Roth conversions early while I have the credit.

Anyone here actually used AMT credits this way?